Chrysler Financial Resumes Zero Percent Car Financing
by Steve Cypher on Wednesday, May 20th, 2009Chrysler Financial announced today that it will resume subvented retail programs in conjunction with Chrysler LLC.
Helping dealers with 2008 inventory
In an article written yesterday on AutoCreditExpress.com, we made a point of the fact that part of Chrysler’s current bankruptcy plan calls for the elimination of 789 of its present dealer base that had, at the time of the announcement, approximately 44,000 new Chrysler vehicles on their lots. And while Chrysler was making arrangements with GMAC to allow the remaining dealers to purchase the 2009 vehicles in this pool, nothing was being done to help those dealers, who had been terminated, sell the remaining 4,000 or so new 2008 vehicles still in their inventories. But it seems that has changed with today’s announcement from, of all sources, Chrysler Financial.
Down but not out
You remember Chrysler Financial, don’t you? It seems that, lately, the erstwhile financial arm of Chrysler has gotten lost in all the press about its parent company’s bankruptcy and the appointment of GMAC as the new “official” finance partner of Chrysler LLC.
But the fact remains that Chrysler Financial, as a separate entity independent from Chrysler, is not in bankruptcy and is attempting, as best it can under the current circumstances, to adopt the attitude of “business as usual.” In that vein, Chrysler Financial today issued a press release outlining a program that will run through the 1st of June.
New program announced
FARMINGTON HILLS, Mich., May 20 – Chrysler Financial announces today the resumption of subvented retail A.P.R. programs in conjunction with Chrysler LLC.
Effective today through June 1, qualified customers have an option of selecting 0% financing for 72 months on select 2008 model year Chrysler, Jeep(R) and Dodge vehicles through Chrysler Financial.
“As this is a challenging market for dealers, Chrysler Financial is pleased to announce our return to retail subvented financing for the month of May to support our dealers and help them move inventory,” said Tom F. Gilman, Chairman and CEO – Chrysler Financial.
This program is in addition to our standard retail financing programs which continued to be offered to qualified retail customers through Chrysler, Jeep and Dodge dealerships.
The Bottom Line
This latest announcement from Chrysler Financial should help many of those Chrysler dealers facing closure clear much of the remaining 2008 inventory from their lots. For customers, it means an even better deal on those models that are covered under the program.
[...] Chrysler Financial Resumes Zero Percent Car Financing | Auto … [...]